Commerce Glossary
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What is a Customer Acquisition?
cus - tom - er ac - qui - si - tion
noun
Is the process of getting new customers, and it involves discovering the right target market and ensuring that customers are successfully buying a company’s products or services. This is a very important process for every company, as it provides the fuel a company is running on in the long term. For the customer acquisition process to be successful, it’s essential to consider the customer’s behavior and how they are influenced by the company’s culture/history, or by the online environment when buying a product or service.
How Does Customer Acquisition Work?
Customer acquisition requires efficient strategies, including customer loyalty programs and identifying the customers that are determined to purchase or already use similar products or services as those offered by your business. Every business needs new customers in order to grow and reach further milestones, so being able to convert new customers can keep the business’ funnel going. It is very important to create a strategy for this process, by defining the best mix of engagement tools to gain and target new customers and to bring them down the marketing funnel from brand awareness to purchase decision.
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